The Board of Directors of Sanlorenzo S.p.A. (“Sanlorenzo” or the “Company”), which met today under the chairmanship of Mr. Massimo Perotti, examined and approved the consolidated half-year financial report as of 30 June 2024.

Massimo Perotti, Chairman and Chief Executive Officer of the Company,commented:

«In the first half of 2024 and until today, we have faced and overcome several challenges with determination and a dynamic approach, fully reflected in our positive results.

First and foremost, we have maintained our planned growth trajectory, further expanding margins and consolidating a robust net backlog, in the context of a complex and uncertain global macroeconomic and geopolitical environment, from which even high-end luxury has not been immune.

We successfully completed two avant-garde projects, key milestones in our ambitious roadmap toward increasingly sustainable yachting. In the summer, we delivered the 50Steel equipped with the green methanol reformer-fuel cell system for on-board hotellerie services, as well as the two BGH tenders with hydrogen propulsion built for two America's Cup challengers.

In line with our sustainable product portfolio strategy, the acquisition of Nautor Swan, completed in early August, demonstrates our ability to identify investment opportunities with significant value creation potential, and integrate them with a long-term industrial rationale consistent with Sanlorenzo's philosophy. Swan is an extraordinary brand with which we can develop significant synergies, contributing importantly to the Group's results.

We move forward with great optimism, fully aware of our strength and the validity of our strategic choices.»

·Net revenues from the sale of new yachts (“Net Revenues New Yachts”) at €415.1 million, +6.9% compared to €388.4 million in H1 2023, driven by the excellent performance of the Superyacht and Bluegame Divisions, with the Yacht Division remaining broadlystable. Geographically, a rebound in the Americas (+9.2%), good performance in APAC (+20.9%), and continued sustained growth in MEA (+142.0%). Europe generally presents a stable environment, the decline (-9.9%) being attributable to the tough comparison basis with an exceptionally strong H1 2023 (+37.1% compared to H1 2022).

·EBITDA at €74.2 million, +9.7% compared to €67.7 million in H1 2023, a margin 17.9%on Net Revenues New Yachts, up by 50 basis points.

·EBITat €58.0 million, +9.1% compared to €53.1 million in H1 2023, a 14.0%margin on Net Revenues New Yachts, up by 30 basis points.

·Group Net Profit at €43.6 million, +11.6% compared to €39.0 million in H1 2023, a 10.5%margin on Net Revenues New Yachts, up by 40 basis points.

·Organic Net Capex at €20.5 million, representing 4.9% of Net Revenues New Yachts, with approx. 90% dedicated to industrial capacity expansion and the development of new models and product lines. Net investments related to the scope change for the consolidation of the Simpson Marine Group amounted to €12.6 million, bringing Total Net Capex for the period to €33.1 million.

·Net Cash Position of €102.2 million as of 30 June 2024, after €34.3 million dividend pay-outin the second quarter. The balance sheet thus remains particularly robust, continuing to provide optionality value for in terms of investment opportunities, even afterthe impact of (i) the acquisition of the Simpson Marine Group, without whose impact the net cash position as of 30 June 2024 would stand at €126.1 million, and (ii) the non-recurring cash absorption related to the normalisation of working capital.

·Gross backlog at €1,364.6 million as of 30 June 2024, maintaining the record level from previous years' 30 June figures, with €741.2 million referring to 2024, covering 83% of the Guidance, and €623.4 million distributed over the subsequent years. An exceptional level of visibility is sustained with a high-quality backlog, 88% of which is sold to final clients.

·Order intake in H1 2024 at €323.0 million, reflecting a normalised level in line with the typical seasonality of H1, despite the non-recurring impact from the implementation and ramp-up of the direct distribution strategy, including the acquisition of Simpson Marine and the incorporation of Sanlorenzo MED, resulting in an additional time lag between sell-in and sell-out. The Net Backlog as of 30 June 2024 stands at €950.0 million, above 1x annual revenues, well above the 'normal' pre-Covid levels.